Amid falling demand for purchase of apartments in London is increasing rents for housing

Rents for residential property in England and Wales rose 2.5% during the first month of the year. According to the recently published index prices for the rental of residential property in the UK “Home Let” in 9 of the 12 regions of the UK have increased rents for housing reached an average value of £889 pounds per month. However, if the statistics exclude properties in London, the average rent is £707 pounds. The strongest growth in housing prices in England were observed in the regions of East Midlands, Scotland and East Anglia, where rental prices rose by 6.2%, 5.7% and 5%, respectively. At the end of 2014, the average price of rent was £867 pounds, and in January 2014 £799 pounds.

At the end of 2014, there was a slight seasonal lull in the market, when rental prices even fell slightly. With the beginning of 2015, the rental market in the UK returned to growth.

Rents for residential property in London has experienced significant growth in 2014 and achieved an average value of £1425 pounds per month in January 2015, showing growth of 2.3% by January 2015 and 13.4% annual price growth. While Wales saw annual price growth for rental property only 1% and the average rent in Wales is currently £586 pounds per month.

The real estate market, like any market, has a wave nature and at different times, experiencing the rise and fall in different sections. If in previous years on the London real estate market has seen a huge growth in prices, now, it seems, buyers woke up and refuse to continue to participate in madly galloping inflation on the property market in London. In such cases, always wins the rental market, because many buyers postponing the purchase of an apartment or home for an indefinite period, adding to the ranks of tenants. Especially notable processes of this kind in the real estate market of London, where a shift in favor of rental housing is in full swing in the sector of “luxury” in luxury areas of Central London. Meanwhile, the investor always wins – if rising real estate prices, the increase in the basic price, if rising rental prices – increasing the rental yield. London real estate – an asset that has always been one of the most reliable investments.

® Alice Morgan 10.03. 2015.

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